Riyadh – Mubasher: Pakistan has held discussions with Saudi Arabia to establish an oil refinery joint venture (JV) in the coming period, Pakistani prime minister Imran Khan said during the second session of the Future Investment Initiative (FII) conference.
Khan also invited Saudi investors to pump investments in Pakistan in a bid to boost cooperation between the two countries.
“There is a vast amount of mineral wealth in Pakistan. We have some of the largest gold reserves in the world, as well as reserves of copper and zinc,” the Pakistani official stated.
The FII conference, dubbed “Davos in the Desert”, started in Riyadh on Tuesday and is set to conclude on Thursday, 25 October.
Earlier this month, Pakistan’s petroleum ministry indicated that the largest global oil firm Saudi Aramco initially approved to start investing in an oil refinery in Pakistan’s deep-water port of Gwadar.
In September Khan presented a proposal to the oil-rich Kingdom to be part of the multi-billion-dollar China-Pakistan Economic Corridor (CPEC) project.
